ConocoPhillips (COP) Given a $54.00 Price Target at Jefferies Group LLC
Jefferies Group LLC set a $54.00 price objective on ConocoPhillips (NYSE:COP) in a research note issued to investors on Tuesday. The brokerage currently has a buy rating on the energy producer’s stock.
COP has been the subject of several other research reports. Piper Jaffray Companies set a $45.00 target price on ConocoPhillips and gave the stock a buy rating in a research note on Friday, August 25th. BidaskClub cut ConocoPhillips from a hold rating to a sell rating in a research note on Thursday, August 17th. Scotiabank set a $54.00 target price on ConocoPhillips and gave the stock a buy rating in a research note on Saturday, July 1st. Zacks Investment Research raised ConocoPhillips from a sell rating to a hold rating in a research note on Tuesday, August 1st. Finally, ValuEngine raised ConocoPhillips from a sell rating to a hold rating in a research note on Monday, July 24th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $54.13.
Shares of ConocoPhillips (NYSE:COP) opened at 42.85 on Tuesday. ConocoPhillips has a 52 week low of $39.00 and a 52 week high of $53.17. The stock’s market cap is $52.15 billion. The firm has a 50-day moving average price of $43.96 and a 200 day moving average price of $46.07.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.16. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. The firm had revenue of $8.88 billion during the quarter, compared to analysts’ expectations of $6.74 billion. During the same quarter last year, the firm earned ($0.79) earnings per share. On average, analysts forecast that ConocoPhillips will post $0.24 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, July 24th will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Thursday, July 20th. ConocoPhillips’s dividend payout ratio (DPR) is presently -34.98%.
Institutional investors have recently modified their holdings of the stock. Gs Investments Inc. bought a new position in shares of ConocoPhillips during the second quarter valued at about $1,029,000. Lord Abbett & CO. LLC boosted its position in shares of ConocoPhillips by 66.5% in the second quarter. Lord Abbett & CO. LLC now owns 2,671,428 shares of the energy producer’s stock valued at $117,436,000 after buying an additional 1,067,428 shares during the period. Kimelman & Baird LLC boosted its position in shares of ConocoPhillips by 842.9% in the second quarter. Kimelman & Baird LLC now owns 108,900 shares of the energy producer’s stock valued at $4,787,000 after buying an additional 97,350 shares during the period. Sentry Investment Management LLC boosted its position in shares of ConocoPhillips by 1.0% in the second quarter. Sentry Investment Management LLC now owns 99,210 shares of the energy producer’s stock valued at $4,361,000 after buying an additional 976 shares during the period. Finally, WFG Advisors LP boosted its position in shares of ConocoPhillips by 0.4% in the second quarter. WFG Advisors LP now owns 9,611 shares of the energy producer’s stock valued at $423,000 after buying an additional 39 shares during the period. Hedge funds and other institutional investors own 68.98% of the company’s stock.
ConocoPhillips Company Profile
ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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